UPDATE: BMO Capital Starts ServiceNow (NOW) at Market Perform

September 20, 2016 7:34 AM EDT
Get Alerts NOW Hot Sheet
Price: $79.55 +0.89%

Rating Summary:
    30 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
Trade NOW Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - September 20, 2016 8:51 AM EDT)

BMO Capital initiated coverage on ServiceNow (NYSE: NOW) with a Market Perform rating and a price target of $85. Analyst Keith Bachman sees challenges.

"We believe that ServiceNow will have challenges sustaining growth in the IT service management (ITSM) market due to the small market size and increasing competition. In contrast, we believe ServiceNow will generate solid growth in new product areas and leverage its existing customer relationships to grow revenue per customer. However, since we think ITSM likely represents around 75% of subscription revenues, we choose to sit on the sidelines," said the analyst.

For an analyst ratings summary and ratings history on ServiceNow click here. For more ratings news on ServiceNow click here.

Shares of ServiceNow closed at $75.99 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, New Coverage

Related Entities

BMO Capital

Add Your Comment